Dominican Republic natural gas facility to save US$300M yearly: Mogul

San Pedro, Dominican Republic.- The engineering design and studies to install the Antillean Natural Gas plant in the eastern province have concluded, mogul Juan B. Vicini announced Thursday during a meeting on energy hosted by the American Chamber of Commerce in the town of Juan Dolio.

"We have an agreement with the US company that will supply us natural gas," Vicini said, noting that construction of the floating regasification unit has begun in Asia

He said when Antillean Gas starts operating the power plants with output of around 1,000 megawatts in the ??San Pedro area can use natural gas instead of other fuels, which he affirms would cut the price per kilowatt hour. “As soon as Atillean Gas starts operations therelll be savings estimated at nearly US$300 million a year of the CESPM, Quisqueya 1, Quisqueya II, Sultana del Este, Origenes and CEMEX plants, which have an installed capacity of 980 megawatts."

Vicini also announced the start of the process to obtain the permits to lay out the pipeline to link the region’s various power plants.

The head of one of the country’s largest business groups revealed that the power company of San Pedro (CESPM) would be the first to obtain natural gas lower than NYMEX indexed prices during 20 years.

Consortium

Antillean Gas LTD is formed by Interenergy, COASTAL (Propagas and Tropigas) and VICINI, from Dominican Republic, PROMIGAS from Colombia and BW from Singapore.

BW is reportedly monitoring the construction of the Floating Regasification Unit, which will be installed next to the COASTAL terminal in San Pedro.